Every since our extended family has cut out most of the gift giving, (excepting children,) it's been my custom to put together a little goody bag for everyone, with candy, and whatever else. Some years I go basic: paper sacks. Last year, I made record bowls, which everyone loved. This year, I decided to make little stockings for everyone.
This ended up being a zero cost project, as long as you don't count the entire day of sewing. The denim came from a pile of jeans I'd been saving in the garage, for some future project. The felt was given to me by mom, who is slowly unloading all her crafting clutter onto me.
I free handed the initials. I know I could have found a fancy font, printed it out, and used it as a pattern, but the goal was to get them done in time for this Christmas, so I skipped that. All the sewing was done on my machine, assembly line style.
The result: 14 little stockings, personalized for everyone in the family.